ThaiBev BeerCo Pre-IPO
On 5th May 2022, Thai Beverage (THBEV SP) announced its intention for BeerCo to resume its Proposed Spin-off Listing. This time around the company is aiming to raise less than US$1bn, as per media reports.We have looked at various aspects of the deal earlier, as the company had tried to spin-off BeerCo in 2021 as well before finally calling it off on 16th April 2021.
Links to our previous notes are below:
ThaiBev Beer Brewery Pre-IPO Spin-Off - Early Take - Aiming to build an ASEAN champion
ThaiBev Beer Brewery Pre-IPO Spin-Off - Valuation Estimation and Implications
ThaiBev BeerCo Pre-IPO - Declining rev and mkt share concerns but good cost control
ThaiBev BeerCo Pre-IPO - Thoughts on BeerCo valuation and ThaiBev HoldCo valuation
ThaiBev BeerCo Pre-IPO - Beer Comparison - Sober Up
In this note, we talk about the recent updates for BeerCo.
Thai Beverage Public Company is engaged in the production and distribution of alcoholic and non-alcoholic beverages, as well as the operation of Japanese restaurants. Co.'s business consists of four segments: spirits, beer, non-alcohol beverages and food. The spirits segment is engaged in the production and sales of branded spirits products. The beer segment is engaged in the production and sales of branded beer products. The non-alcoholic beverages segment involves the production and sales of branded water, soda, ready-to-drink coffee, energy drink, green tea and fruit juice flavour. The food segment includes Japanese restaurants, bakery shops and distribution of food and beverage.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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